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Divyaapugal
May 10, 2022 7:50 PM

MOST RELIABLE CANDLESTICK PATTERN  Education

Description

Pattern name: Bullish Engulfing
Pattern Type : Bullish Reversal
No. of Candles : 02


How to Identify it ?
1)There must be a preceding Downtrend.
2)A short Red candle followed by a long Green candle.
3)The Green candle should opens lower & closes higher than the Red candle.
4)The Red candle should be completely engulfed by the Green candle.

Psychology behind it :
1)The Bears lose momentum & the Bulls take charge and managed to close above the red candle.
2)It implies the bulls have fully override the bears.

How to trade it ?
1)Look for the Bullish Engulfing at the bottom of the Downtrend.
2)Upon confirmation, open a Long position in the 3rd Candle.
3)Place a Stoploss below the low of the Green candle.



Happy Trading :)
-Divyaa Pugal
Comments
johntradingwick
This publication has been chosen for the Editor's Picks and will be featured on in.tradingview.com/ideas/editors-picks/.

Thank you for your valuable contribution to the Tradingview community and keep up the good work!
Divyaapugal
@johntradingwick thank u sir:)
deveshmurmu
and if the opposite trend is occurs the upward trend takes place and the green one is short and red one is long then also it applicable or not
Divyaapugal
@deveshmurmu Applicable sir....the viceversa pattern is called as bearish engulfing...
abiswas5432
@Divyaapugal didi ji kitne mahine hua hai aapko trading me 🤝🤝🤝??
deveshmurmu
@Divyaapugal thanks....
Divyaapugal
@abiswas5432 my hindi is little weak , I am in trading for last 7 years
S515754
Mam candlestick ke upar stoploss to rakh lete hai lekin uska target kaha par set krein please bataye
Tarun_Agrawal_808
Out of 10 times this kind of candle stick patterns failed 8 times
Bcz if these patterns would be able to make money then anyone can earn from market
So please completely avoid these and trade on demand and supply zones respectively after checking sector support and fully top down approach
vishwesh_
@Tarun_Agrawal_808, Hey Tarun..Can you explain how to identify demand and supply zones
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